Britain: KPMG plans timely return of MF Global assets - by Luke Jeffs

Reuters reports that MF Global UK administrator KPMG plans to start returning to clients the $1.2 billion of cash and assets frozen at the defunct broker as early as this month in a move that will placate customers ahead of their showdown with KPMG next week.

Richard Heis, joint special administrator of MF Global UK, told Thomson Reuters on Thursday the administrator had recovered the majority of client monies and almost all outstanding client assets, and hoped to start returning these to owners shortly.

"At the end of December we had recovered some 82 percent of client monies and substantially all of the client assets. We hope to commence the return of client assets and an interim distribution of monies as early as this month," Heis said.

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